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. >> there is a fundamental difference between short-term deficits and an structural deficits. the short-term deficits largely were inherited by the rock obama -- barack obama and we need to understand its short-term deficits are understandable because we are in a recession and we have to undeclared wars and a number of bailouts and unemployment is very high. so he made it very clear that he wants to try to take the steps to try to get the economy going on in consistent basis and bring unemployment down. he is going to propose a number of tax cuts or tax preferences as well as spending increases to try to do that and that may exacerbate the short-term but then he pivoted which i think is important to talk about the structural deficit. and that is what threatens the state. it's not the ice that is above the water. it's the ice that is below the water. it's not the debt on the balance sheet, it is what is off the balance sheet that disrupts the future and he talked about three things, he talked about freezing a portion of discretionary spending, less than 20% of the federal budge
. >> there is a fundamental difference between short-term deficits and an structural deficits. the short-term deficits largely were inherited by the rock obama -- barack obama and we need to understand its short-term deficits are understandable because we are in a recession and we have to undeclared wars and a number of bailouts and unemployment is very high. so he made it very clear that he wants to try to take the steps to try to get the economy going on in consistent basis and bring...
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Dec 5, 2013
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as they were concentrated on deficit reduction and did not see the connection between deficit reduction and growth. they thought deficit reduction was a great policy. that was the mistake. they could not think in these dynamic terms. thaty do you not think this recovery will become a more broad-based recovery? there is some evidence that the export story is improving, manufacturing data has been improving. that data -- they are largely u.k. generated. it is internal rather than export. basic have to go back to theory. there are two drivers of economic growth. investment and there is consumption. you have got to look at what is happening to both of those components. and then you have to ask what are the chances that they will grow. i do not think investment -- it may have picked up a little bit. it is still very much lower than it was in 2007 in 2008. as for consumption, there has been a big decline in real earnings. over the last five years. >> how do we deal with that? this could come back to the tax story. >> that comes back to the tax story, it comes back to the way national insuranc
as they were concentrated on deficit reduction and did not see the connection between deficit reduction and growth. they thought deficit reduction was a great policy. that was the mistake. they could not think in these dynamic terms. thaty do you not think this recovery will become a more broad-based recovery? there is some evidence that the export story is improving, manufacturing data has been improving. that data -- they are largely u.k. generated. it is internal rather than export. basic...
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fiscal deficit. >> david, rapidly shrinking, the deficit is going down. $17 trilli $17 trillion debt and a deficit higher than the one he received from his predecessor? >> the debt is higher. we would be in much better economic shape and young people would have better job opportunities if we weren't shrinking so fast. we have gone from 10%, basically what he inherited down to 4% of the economy and on the way down to 2% by the end of the president's term. if he were not to doing this about spending and we were invest can in the future, in education, research, we are seeing american research going to china and we are not spending tax dollars on basic research, which corporations don't do. >> that's always been done by government. so, neither the finding about young people is surprising, nor is the president's focus. yeah, we have brought down the deficit is what he is saying, significantly, 90% of americans seem to be unaware of this. million americans receiving disability benefits. 47 million on food stamps? >> yeah. >> torn in 4 million on long-term, getting unemployment benefits. th
fiscal deficit. >> david, rapidly shrinking, the deficit is going down. $17 trilli $17 trillion debt and a deficit higher than the one he received from his predecessor? >> the debt is higher. we would be in much better economic shape and young people would have better job opportunities if we weren't shrinking so fast. we have gone from 10%, basically what he inherited down to 4% of the economy and on the way down to 2% by the end of the president's term. if he were not to doing this...
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Dec 7, 2013
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so sometimes there are very great people who have a deficit of self-esteem. so we wanted to question what we felt were these dogmas that had emerged and were just too prevalent, too widely believed. >> host: so not a supporter of the everybody gets a trophy theory. >> guest: no. [laughter] and the kids know. if you don't keep score and you think, well, that'll make everyone feel good, the children keep score. >> host: a call from annapolis, maryland. please go ahead. >> caller: good afternoon, dr. somers. i was wondering if you would comment on the one-woman theme that took place during the presidential election and also the recent virginia governor's election and why at least it was reported it did have an effect on women voters. >> host: what's your opinion first before we hear from dr. sommers? >> caller: my opinion, it was almost like preaching to the choir, and the way it was reported and may have seemed to be emphasized by those who believed it anyway. but in the virginia governor's election, i lived in maryland, it did seem to have an effect at least o
so sometimes there are very great people who have a deficit of self-esteem. so we wanted to question what we felt were these dogmas that had emerged and were just too prevalent, too widely believed. >> host: so not a supporter of the everybody gets a trophy theory. >> guest: no. [laughter] and the kids know. if you don't keep score and you think, well, that'll make everyone feel good, the children keep score. >> host: a call from annapolis, maryland. please go ahead. >>...
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i mean you look at this budget bill, it's not deficit reduction, there's no cuts in entitlements, there's no closing corporate loopholes. we're really just in a holding pattern here. >> lois romano, e.j. dough a jj thank you both. >>> if you read only one thing this morning, say it isn't so. the rules and regulations are out for the super bowl and partiers take note. no tailgating. now you can eat and drink in your car, you can stand outside your car if you stay within the lines of your parking space but that's it. and wait until you read what kinds of cars will and won't be allowed in the parking lot. it's my must read. it's up on our facebook page, where a common theme from you has been there's an easier way. mary barnett wrote why not a super bowl party at home and then you can eat and drink as much as you want? true enough. let us know what you think. head to facebook/jansingco. which rewards her for responsibly managing her card balance. before receiving $25 toward her balance each quarter for making more than her minimum payment on time each month. tracey got the bankamericard bette
i mean you look at this budget bill, it's not deficit reduction, there's no cuts in entitlements, there's no closing corporate loopholes. we're really just in a holding pattern here. >> lois romano, e.j. dough a jj thank you both. >>> if you read only one thing this morning, say it isn't so. the rules and regulations are out for the super bowl and partiers take note. no tailgating. now you can eat and drink in your car, you can stand outside your car if you stay within the lines...
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in the fiscal year, the deficit as a percentage of g.d.p. dropped by 37%. there are still some challenges for the u.s. economy. but the current -- if the only thing congress does right now is to get out of the way, that itself would be progress. and that's our show for today on tuesday, the winners and losers in wall street annual bonus sweep stakes, in for ali valshi, thank you for joining us. homeowners, one minute home he is. what is going on. talk rabbiting numbers we have more homeless school age kids in america than ever before. >> right. >> so we have to have a whole new conversation about american
in the fiscal year, the deficit as a percentage of g.d.p. dropped by 37%. there are still some challenges for the u.s. economy. but the current -- if the only thing congress does right now is to get out of the way, that itself would be progress. and that's our show for today on tuesday, the winners and losers in wall street annual bonus sweep stakes, in for ali valshi, thank you for joining us. homeowners, one minute home he is. what is going on. talk rabbiting numbers we have more homeless...
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Dec 5, 2013
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fiscal deficit. [applause] so that's step one towards restoring mobility, making sure our economy is growing faster. step two is making sure we empower more americans with the skills and education they need to compete in a highly competitive global economy. we know that education is the most important predictor of income today, so we launched a race to the top in our schools. we're supporting states that have raised standards for teaching and learning. we're pushing for redesigned high schools that graduate more kids with the technical training and apprenticeships, and in-demand, high-tech skills that can lead directly to a good job and a middle-class life. we know it's harder to find a job today without some higher education, so we've helped more students go to college with grants and loans that go farther than before. we've made it more practical to repay those loans. and today, more students are graduating from college than ever before. we're also pursuing an aggressive strategy to promote innovat
fiscal deficit. [applause] so that's step one towards restoring mobility, making sure our economy is growing faster. step two is making sure we empower more americans with the skills and education they need to compete in a highly competitive global economy. we know that education is the most important predictor of income today, so we launched a race to the top in our schools. we're supporting states that have raised standards for teaching and learning. we're pushing for redesigned high schools...
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in the fiscal year, the deficit as a percentage of g.d.p. dropped by 37%. there are still some challenges for the u.s. economy. but the current -- if the only thing congress does right now is to get out of the way, that itself would be progress. and that's our show for today on tuesday, the winners and losers in wall street annual bonus sweep stakes, in for ali valshi, thank you for joining us. [ singing ] >> a day of remembrance and celebrations. tens of thousands gather to honour the life of nelson mandela. >> hello, i'm here at the f.n.b. stadium in soweto, where the world is paying its respects to nelson mandela. >> hello, live from doha withage of the memorial service. more than
in the fiscal year, the deficit as a percentage of g.d.p. dropped by 37%. there are still some challenges for the u.s. economy. but the current -- if the only thing congress does right now is to get out of the way, that itself would be progress. and that's our show for today on tuesday, the winners and losers in wall street annual bonus sweep stakes, in for ali valshi, thank you for joining us. [ singing ] >> a day of remembrance and celebrations. tens of thousands gather to honour the...
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we have budget deficits that have improved but they have not disappeared and we have deficits in education and innovation and infrastructure that continue to widen. we know we need comprehensive tax reform, comprehensive immigration reform. there is a lot more for congress to do. so this deal doesn't solve all of our problems but i think it is an important step in helping to heal some of the wounds here in congress, to rebuild some trust and show that we can do something without a crisis right around the corner. and dom on straight the value in making our government work for the people we represent. so when all of this is done, i am very proud to stand with chairman ryan or anyone else who wants to work on this bipartisan foundation to continue addressing our nation's challenges. nothing is easy here but i know the american people expect nothing less. i want to take a minute to especially change chairman ryan. he and i do have some major differences. we cheer for a different football team. clearly. we catch different fish. we have some differences on policies. but we agree that our country
we have budget deficits that have improved but they have not disappeared and we have deficits in education and innovation and infrastructure that continue to widen. we know we need comprehensive tax reform, comprehensive immigration reform. there is a lot more for congress to do. so this deal doesn't solve all of our problems but i think it is an important step in helping to heal some of the wounds here in congress, to rebuild some trust and show that we can do something without a crisis right...
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Dec 6, 2013
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robust is a healthy and urbanization, but we did have a deficit. one of the challenges to address was to know longer have a deficit. it created an entity that would enable a structure that would enable one to receive money, and those who gave money to get tax deductions was key. so we got a new irs status, c3 charitable foundation, and we also received chi museum.s the nogu prior to that, the noguchi foundation which was the museum was a program of. >> how would you describe the work of noguchi to those are not familiar with this culture or art? york, mother was from new his father was japanese. he called himself a global artist at the time. it was before the motions of multiculturalism and biracial. he was born in 1904. he was extraordinarily prolific in that he worked in parks, landscapes. he was a precursor to all of the artists that went on to be known as earthwork artists. he did parks, playgrounds, theater curtains, theater sets. he had an association with martha graham for 50 years. many people do not realize the big stainless steel piece in
robust is a healthy and urbanization, but we did have a deficit. one of the challenges to address was to know longer have a deficit. it created an entity that would enable a structure that would enable one to receive money, and those who gave money to get tax deductions was key. so we got a new irs status, c3 charitable foundation, and we also received chi museum.s the nogu prior to that, the noguchi foundation which was the museum was a program of. >> how would you describe the work of...
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Dec 4, 2013
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fiscal deficit. [ applause ] so that's step one towards restoring mobility. making sure our economy is growing faster. step two is making sure we empower more americans with the skills and education they need to compete in a highly competitive global economy. we know that education is the most important predictor of income today. so we launched a race to the top in our schools. we're supporting states that have raised standards for teaching and learning. we're pushing for redesigned high schools that graduate more kids with the technical training and apprenticeships and in-demand high-tech skills that can lead to a good job and a middle-class life. we know it's harder to find a job today without some higher education, so we've helped more students go to college with grants and loans that go farther than before. we've made it more practical to repay those loans and today more students are graduating from college than ever before. we're also pursuing an aggressive strategy to promote innovation that reins in tuition cost. we have a lower cost so young people ar
fiscal deficit. [ applause ] so that's step one towards restoring mobility. making sure our economy is growing faster. step two is making sure we empower more americans with the skills and education they need to compete in a highly competitive global economy. we know that education is the most important predictor of income today. so we launched a race to the top in our schools. we're supporting states that have raised standards for teaching and learning. we're pushing for redesigned high...
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i'm getting more deficit reduction. so the deficit will go down more by passing this than if we did nothing. that's point number one. point number two, there are no tax increases here. point number three, we're finally starting to deal with auto pilot spending. that mandatory spending that has not been addressed by congress for years. this isn't easy. this is the first divided government budget agreement since 1986. the reason why we haven't done a budget agreement when both houses were controlled by other parties since 1986 is because it's not easy to do. we're not going to get everything that we want and she's not going to get everything that she wants. >> what if they reject it. >> i think we'll pass there though the house. we'll go first given our schedules. we'll post this on our website this evening and we intend to bring it to the house floor later this week. i have every reason to expect great support from our caucus. we're keeping our key principles. no one here had to sacrifice their core principles. our princ
i'm getting more deficit reduction. so the deficit will go down more by passing this than if we did nothing. that's point number one. point number two, there are no tax increases here. point number three, we're finally starting to deal with auto pilot spending. that mandatory spending that has not been addressed by congress for years. this isn't easy. this is the first divided government budget agreement since 1986. the reason why we haven't done a budget agreement when both houses were...
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i would put the emphasis down to get the trade deficit close closer to balance. liz: you think the weaker dollar is better. exports looked not certainly so bad. exports were up. people are buying our good overseas. >> well, it was some improvement but we actually revised down the previous numbers, previous month ace numbers. so it wasn't much of an improvement. we have a ways to go. we have a deficit of 500 billion. maybe we're moving in the right direction but if so, very slowly. we have to pick up that pace. liz: precursor to the government's jobs number report, adp, came out yesterday. look better than expected, 218,000 jobs created what are you expecting from the labor department tomorrow? >> i will be a pessimist, 141, 50. last month was strong numbers. strong growth in retail employment. very strong growth, manufacturing construction. i think latter two were a mom lace. the -- anomalies. think people are doing earlier than normal hiring, christmas hiring. a lot of hiring that would normally take place in november took place in october. i think i ace weak st
i would put the emphasis down to get the trade deficit close closer to balance. liz: you think the weaker dollar is better. exports looked not certainly so bad. exports were up. people are buying our good overseas. >> well, it was some improvement but we actually revised down the previous numbers, previous month ace numbers. so it wasn't much of an improvement. we have a ways to go. we have a deficit of 500 billion. maybe we're moving in the right direction but if so, very slowly. we have...
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we are facing for all the talk of a budget deficit, we're facing an infrastructure deficit. and because we have just sort of run the gas tax trust fund down to where it's approaching zero, if we don't do something in the next ten months, we're going to face an inability to fund any transit funding next year, and the federal highway funding will drop 92%. >> what's happened to all the money we have already allocated, not only through the gas tax but states, municipalities and surcharges and -- where has that money gone. >> look around you and see in every community. we have had a dramatic reduction in the amount of money that has been available over the course of the last ten years. as i say, you haven't raised the gas tax in 20 years. >> but we have more gas revenue coming in because more people are driving and just demand -- >> that's not the case. >> is there a way to assure this in a lock box so it's intend for just that purpose? we do have a lot of other means by which we raise money to help our infrastructure, and our infrastructure still sucks. >> first of all, if you
we are facing for all the talk of a budget deficit, we're facing an infrastructure deficit. and because we have just sort of run the gas tax trust fund down to where it's approaching zero, if we don't do something in the next ten months, we're going to face an inability to fund any transit funding next year, and the federal highway funding will drop 92%. >> what's happened to all the money we have already allocated, not only through the gas tax but states, municipalities and surcharges...
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he faced the largest per capita deficit in the country. total debt of about three point $5 billion. he did several terms as mayor of stamford, connecticut, promising to make 2012 the year of education. in connecticut, he tackled a reform agenda in a state that has long been known for one of the nation's widest racial achievement gaps. the governor took the lead in passing one of the nations more dramatic education bills. it was public act -- some of the packages required a new teacher evaluation pilot in which 45% will be based on student learning. the governor's package created a commissioners network similar to the recovery school district. it has the ability to take authority over 25 of the state's lowest performing schools. an increased charter school funding. the figure will go to 11,500 by fiscal 2015. >> it is great to be with you. i appreciate the opportunity to speak about an issue that is very dear to my heart. i like to talk about what really needs to happen in the united states and put it into an appropriate context. we have been at the business of educating on a public
he faced the largest per capita deficit in the country. total debt of about three point $5 billion. he did several terms as mayor of stamford, connecticut, promising to make 2012 the year of education. in connecticut, he tackled a reform agenda in a state that has long been known for one of the nation's widest racial achievement gaps. the governor took the lead in passing one of the nations more dramatic education bills. it was public act -- some of the packages required a new teacher...
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aren't the unions with deficit down and negotiate? >> maybe at some point. dennis: we do it in the private sector all the time, why can't you? >> this idea government workers are uncomfortable, but yet all activity. >> it is ridiculous. these people deserve what they were told they would get. >> it is a lot more antigovernment. dennis: you're a good sport. the congressional bill in illinois, you'll hear from the guy who could be the next governor in illinois. talk was tracy byrnes and ashley webster at 2:00 p.m. cheryl: "wall street journal" reporting americans with chronic illnesses might also be big losers with higher out-of-pocket drug cost. joining us to talk about how it will affect the pocketbook, it is great to have you on the program. the journal found the biggest issue here is the still had to sign up for the plan before they will tell you what your benefits are going to be. how are we supposed to know what it will be? >> they are very tough, especially where lots of sick people are opting into the exchanges premiums may be lower. they will have a t
aren't the unions with deficit down and negotiate? >> maybe at some point. dennis: we do it in the private sector all the time, why can't you? >> this idea government workers are uncomfortable, but yet all activity. >> it is ridiculous. these people deserve what they were told they would get. >> it is a lot more antigovernment. dennis: you're a good sport. the congressional bill in illinois, you'll hear from the guy who could be the next governor in illinois. talk was...
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we have never had anything close to such a sustained job deficit after any recent downturn. it has been said in opposition to an extension that the federal emergency unemployment compensation program was adopted for extraordinary circumstances that are disappearing. no. no. these extraordinary circumstances continue, as indicated in the report issued just this morning by president obama's council of economic advisers. it highlights that the current long-term unemployment rate is at least twice as high as it was at the expiration of every previous extended ui benefit program. the extraordinary circumstances continue. the report also sets out the economic impact of a failure to act. it agrees with cbo and other economists. allowing the federal ui program to expire will cost our economy at least 200,000 jobs next year because of reduced consumer demand. for this congress to ignore the national economic impact would be shortsighted. to ignore the human, the individual human impact would be coldhearted. that is not the better nation -- the better nature of our nation. i trust of
we have never had anything close to such a sustained job deficit after any recent downturn. it has been said in opposition to an extension that the federal emergency unemployment compensation program was adopted for extraordinary circumstances that are disappearing. no. no. these extraordinary circumstances continue, as indicated in the report issued just this morning by president obama's council of economic advisers. it highlights that the current long-term unemployment rate is at least twice...
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trade deficit as bloated. since nafta and wto we've lost over 5 million of our manufacturing jobs from a 40,000 factories gone, and real wages down across the economy. in fact, true honesty, our exports rose to countries we do not have fast-track trade agreements with, actually 38 percent higher than those with which we do. myth number three, every president since roosevelt has said tpa. morning, trick, acronym. tpa also is an acronym for trade promotion authority, a cynical renaming a fast track, but it is also the reciprocal tariff act is called trade promotion the tory. and that is a mechanism president roosevelt had that only pertained to tariffs. the estimate is true, from 1934 the reciprocal tariff act had tariff, proclamation a story, tpa. a totally different thing than what equals fast track. true. a handful of president since nixon have had fast track. for the politics, the question is will this house of representatives give president obama this extraordinary authority to push through the trans pacifi
trade deficit as bloated. since nafta and wto we've lost over 5 million of our manufacturing jobs from a 40,000 factories gone, and real wages down across the economy. in fact, true honesty, our exports rose to countries we do not have fast-track trade agreements with, actually 38 percent higher than those with which we do. myth number three, every president since roosevelt has said tpa. morning, trick, acronym. tpa also is an acronym for trade promotion authority, a cynical renaming a fast...
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. >> also said it wouldn't add a dollar to the deficit and the insurance companies knew they were always going to get this. that's why i don't buy when anyone says it will collapse on its open weight. they will continue to pump money into save it. in there was a tragic train wreck in new york over the weekend and the conductor lost his insurance because of obama care. so i think frankly that there are a lot of things happening in america today, the problems over obama care, the weather, everything is going terrible. >> are you kidding me? the fact of the matter is things starting to work better and better. the democrats have to run on it. they know they can't run against it. they voted for the they think. by the way, this earpiece one more time -- they voted on it, so now what are they going to do? they will try to get around behind it, so they have to run on it. >> what about the bailout for the insurance companies? >> i wouldn't bail the insurance companies out if they -- >> that was from the white house. the white house offered incentives to, quote, help offset losses in profits to th
. >> also said it wouldn't add a dollar to the deficit and the insurance companies knew they were always going to get this. that's why i don't buy when anyone says it will collapse on its open weight. they will continue to pump money into save it. in there was a tragic train wreck in new york over the weekend and the conductor lost his insurance because of obama care. so i think frankly that there are a lot of things happening in america today, the problems over obama care, the weather,...
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effect on the town of the mine closing was deficit in the account had been through lots of hard times bigger than labor strikes and i write about what big strikes in my book. it had been through the depression the aldermen voted to work three days a week so everybody could work. but when the mine closed-end, nobody could believe it. they tried to get people to get in to be a white knight to save the town and have someone else bought it. a company that bought it from the original owners and they were mining deep and mining fast and getting the best stuff out there and then environmental protection agency came in and said you can't keep doing what you're doing. and between the way the gulf resources managed the mine and the epa, they closed down and this became a superfund site. epa is the one who tries to keep the air clean and the water claim. this town did not have clean air or clean water. so there were lots of poisons that were spread out on the ground. while this one company was managing the mine, there was a back house fire. the back house was the place for many of the boys were
effect on the town of the mine closing was deficit in the account had been through lots of hard times bigger than labor strikes and i write about what big strikes in my book. it had been through the depression the aldermen voted to work three days a week so everybody could work. but when the mine closed-end, nobody could believe it. they tried to get people to get in to be a white knight to save the town and have someone else bought it. a company that bought it from the original owners and they...
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fiscal challenges that your country is, and we went through a strategic review several years ago and a deficit reduction action plan, all of which has decreased our budget by 10-15%. and and this has required all kinds of trade-offs along the way too. going forward and recently we just had the speech which indicates that the government is looking to refurbish their canada first defense strategy and in that way allows us to look at where we can invest in new areas. so there will be trade-offs to come certainly within a stable envelope of tight resources. >> okay. and then the last question i wanted to ask is on author rad. norad. and you mentioned in your comments that, expansion, if you will, into the maritime domain, i think there's a lot of interest, too, in cyber domain, and you did reference the author rad strategic -- norad strategic review that's underway. can you give us some insights into what the u.s. and canada are exploring into that strategic review and what types of changes we might expect to see come out of that? >> i know that the commander of norad who is not only the u.s. comm
fiscal challenges that your country is, and we went through a strategic review several years ago and a deficit reduction action plan, all of which has decreased our budget by 10-15%. and and this has required all kinds of trade-offs along the way too. going forward and recently we just had the speech which indicates that the government is looking to refurbish their canada first defense strategy and in that way allows us to look at where we can invest in new areas. so there will be trade-offs to...
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much more important than the fiscal deficit, the yearly fiscal deficit in this country which he points out is actually shrchging in his administration john. >> point out, this issue about the young people are disappointed with president and congress. >> part of the obama coalition that got him elected twice is young people, so-called millennials. folks at harvard has a unit that polled these folks. 18 to 25, bad news for the president, festival his approval rating down to 41%. that is a reflection of the population at large but down 11% since just this spring. and john earlier the president did some work to shore up the forecast, the so-called -- shore up the rveght affordable care a% of millennials disapprove of the affordable care act. have no plans to sign up. that's disappointing news. >> the numbers behind inequality could be surprising for many. jonathan betz has a closer look at what the president says is an economic inequality gap. >> simply put the poor are getting poorer and the rich are getting richer. first off, what does this mean? the median income for an american househo
much more important than the fiscal deficit, the yearly fiscal deficit in this country which he points out is actually shrchging in his administration john. >> point out, this issue about the young people are disappointed with president and congress. >> part of the obama coalition that got him elected twice is young people, so-called millennials. folks at harvard has a unit that polled these folks. 18 to 25, bad news for the president, festival his approval rating down to 41%. that...
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Dec 3, 2013
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there was a $330 million cumulated deficit over time, we had an $18 billion overhang. and so we were never able to go out and increase revenue. so the only way we stayed alive quite frankly is through cuts. and we cut everything that we could, but unless there is more investment coming into the city, and a new stream of revenue, there was no way to -- i guess to fix the problem, so now with bankruptcy eminent, i think our debt off of our balance sheet would be less than it is today, and that is going to be a positive on a going forward basis. >>> the mayor of detroit responding to a federal judge's ruling that detroit can proceed with its bankruptcy filing. bisi onile-ere is live from detroit. what is the reaction there. >> as you can see me there is a group gathered. and you have been very outspoken through this whole or deal. were you disappointed by the judge's decision? >> we were very disappointed. he basically found that terminating the pensions is legal. >> reporter: a lot of people are worried right now because of the ruling that came down. >> we're continuing
there was a $330 million cumulated deficit over time, we had an $18 billion overhang. and so we were never able to go out and increase revenue. so the only way we stayed alive quite frankly is through cuts. and we cut everything that we could, but unless there is more investment coming into the city, and a new stream of revenue, there was no way to -- i guess to fix the problem, so now with bankruptcy eminent, i think our debt off of our balance sheet would be less than it is today, and that is...
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Dec 2, 2013
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. >>> peyton manning and the broncos erased a deficit. manning threw for five touchdowns. they win 35-28. >>> steph curry hit two free throws late to give the warriors the lead but the kings had the last shot. >> isaiah thomas playing beat the clock. , thomas to the rim, bogut blocks the shot, he got the rebound, warriors win! [ applause and cheers ] >> andrew bogut came through with the big block. and the warriors win it, 115- 113. warriors starting to get the momentum back, just wait until they get andre iguodala back in the line-up. that will do it. everybody, have a great day. >>> thank you, vern. play of the day from the broncos-chiefs matchup. denver runningback moreno shoal the show with interesting moments. first he cried during the national anthem just gushing out then the crawl comes after he was finally brought down by what seemed like the entire kansas city defensive line. and there he goes. doing the worm out there. moreno's moment today's play of the day. i think the broncos won. i'm not sure. >> they did. >> they are pretty good. >> yes. >>> 5:25 right now.
. >>> peyton manning and the broncos erased a deficit. manning threw for five touchdowns. they win 35-28. >>> steph curry hit two free throws late to give the warriors the lead but the kings had the last shot. >> isaiah thomas playing beat the clock. , thomas to the rim, bogut blocks the shot, he got the rebound, warriors win! [ applause and cheers ] >> andrew bogut came through with the big block. and the warriors win it, 115- 113. warriors starting to get the...
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and these deficits have to be paid to pay these deficits cuts in the public spending when necessary the first expenses hits were social expenses unfortunately. in doing that we cut spending including social spending and that obviously had a negative effect on health education and social housing report obviously. this took place at a time when that chair was in power in the u.k. and reagan in the us. it was really the law of the markets. and so the economists of the i.m.f. the world bank and in a lot of other countries even bilateral cooperation said allow real prices to rule and all problems will be solved. i think that by doing that we did a lot of harm mainly because we didn't know ways to understand the economic policy of these countries. once the structural adjustments were imposed by creditors namely the world bank and i.m.f. it was like hell on earth here. at the hospital everything had become. consultations you have to pay to see the doctor to get more syringe is more alcohol. i mean it was hell people often died from curable diseases. and people in poor health who have no ac
and these deficits have to be paid to pay these deficits cuts in the public spending when necessary the first expenses hits were social expenses unfortunately. in doing that we cut spending including social spending and that obviously had a negative effect on health education and social housing report obviously. this took place at a time when that chair was in power in the u.k. and reagan in the us. it was really the law of the markets. and so the economists of the i.m.f. the world bank and in...
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Dec 9, 2013
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japan's trade deficit is continuing. -- current-account deficit people are saying there is not going to be a permanent one but the trade deficit is going to continue for the foreseeable future. some economists have said the import ahead of the sales tax rise -- people are importing more housing materials and other products because people are expected to by those in the next five or six months. factor another temporary which is causing this deficit. >> thank you, james. down going to be breaking the latest economic data from china. ."ming up next on "on the move ♪ the scene at the moment at the imperial palace in tokyo. we had some weaker than expected growth. 1.9% up.economists say a weaker yen just above the 103 level helping exporters. take a look at what is going on with some of the others, metal zinc and aluminum on the way down. seng the gains of hang after 11 minutes of the trading day. out a inflation figures short while ago, fairly benign. less thanng up by october's figures would indicate. 2013 is on track to be one of the best years in a decade for u.s. stocks. analysis s
japan's trade deficit is continuing. -- current-account deficit people are saying there is not going to be a permanent one but the trade deficit is going to continue for the foreseeable future. some economists have said the import ahead of the sales tax rise -- people are importing more housing materials and other products because people are expected to by those in the next five or six months. factor another temporary which is causing this deficit. >> thank you, james. down going to be...
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Dec 9, 2013
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it tells us if the vine is in a deficit or doing fine. >> with this, we can actually save water, which is an important thing. >> especially in california which seems like its been in remember. >> by eliminating water at the right times and by giving water at the right times, we can have those berries grow small. the smaller the berries, the buser the skin to juice ratio is. that means more robust, big, juicy wines. >> innovative technology also fine tunes the work at the crush pad. here, alias programs the optical sorter to choose grapes based upon a specific color. only the right ones. everything else gets dump here we notice the change almost overnight. the wine is only 5 or six days old. fresher, cleaner, more focused. it was we are going to check out a red wine ferm entation. >> what was sorted earlier? >> it looks look luke soup. >> they communicate with alias via wi-fi. >> if it gets too hot t will send me an alarm. fe fermentation team. >> i get a text and phone call. i have them at 2:00 in the morning sometimes. >> even the aging process it is technology. >> this was invented b
it tells us if the vine is in a deficit or doing fine. >> with this, we can actually save water, which is an important thing. >> especially in california which seems like its been in remember. >> by eliminating water at the right times and by giving water at the right times, we can have those berries grow small. the smaller the berries, the buser the skin to juice ratio is. that means more robust, big, juicy wines. >> innovative technology also fine tunes the work at the...
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we are looking at an explosion of entitlements and debt and possibly devastation to the deficit and to the country if we don't get in charge of it. >> you are absolutely -- >> this president seems to have no sense of what to do. i will give you the last word here congressman, but it seems the republicans don't have the answers either. >> you are absolutely correct. it is monumental. needs to be totally ripped out by the roots and replaced with something such as my patient option act. we do have some republicans and democrats that wants to fix it. in fact to my colleague from georgia wants to fix it. it is not fixable. we have got to get rid of obamacare because of all the things you're saying. people are going to lose there doctors. in fact, they're going to lose their insurance. the promises made by this president are totally false. he is delusional if he thinks that people are going like obamacare. i have the plan, the patient option act, and i am going to continue to try to get it passed into law. the american people can get it passed into law by demanding it from they're elected re
we are looking at an explosion of entitlements and debt and possibly devastation to the deficit and to the country if we don't get in charge of it. >> you are absolutely -- >> this president seems to have no sense of what to do. i will give you the last word here congressman, but it seems the republicans don't have the answers either. >> you are absolutely correct. it is monumental. needs to be totally ripped out by the roots and replaced with something such as my patient...
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Dec 9, 2013
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BLOOMBERG
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you want to talk about the deficit. this will not go away. are people actually concerned about high deductibles? >> you certainly have a lot of republicans who will talk about it. there talking about the problems with healthcare.gov and they are also talking about the way the rubber meets the road. the prices that they are paying for premiums that are out there and the deductibles are going up as well. this is another talking point for them. they have criticized the health care law. we will have several members on capitol hill and this is one of the questions they will have to answer. rollout, theo the website is operating better. they will make this point over and over. >> lawmakers actually have a deadline of their own to sign up for the affordable care act. how is that going? >> there is actually a different website. technically, they are members of a small business. that is the congress of the united states. they are operating off of the d.c. exchange. the deadline is december 23. december 9 is the deadline for members of congress underst
you want to talk about the deficit. this will not go away. are people actually concerned about high deductibles? >> you certainly have a lot of republicans who will talk about it. there talking about the problems with healthcare.gov and they are also talking about the way the rubber meets the road. the prices that they are paying for premiums that are out there and the deductibles are going up as well. this is another talking point for them. they have criticized the health care law. we...
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Dec 8, 2013
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that deal might include scaling back some of those sequester cuts, finding a little bit of deficit reduction. here's the key thing to focus on, though, right now, alex. the tone. there doesn't seem to be an appetite for another government shutdown. that, of course, bodes well for the economy and washington in general. take a listen to what two lawmakers had to say earlier today. >> keep the budget caps in place, not raise taxes, which is important during this weak economy, and actually avoid a government shutdown. so i'm hopeful that even by the end of this week we'll be able to come together and achieve that. >> i certainly hope as part of it that the negotiators will take to heart what the president had to say. there are working families across america that are struggling. there are unemployed families who need a helping hand. we've got to protect and preserve the safety net in america and give these working families a fighting chance. >> so alex, of course there you have republican rob portman, democrat dick durbin. and you heard senator durbin talking about unemployment insurance. that i
that deal might include scaling back some of those sequester cuts, finding a little bit of deficit reduction. here's the key thing to focus on, though, right now, alex. the tone. there doesn't seem to be an appetite for another government shutdown. that, of course, bodes well for the economy and washington in general. take a listen to what two lawmakers had to say earlier today. >> keep the budget caps in place, not raise taxes, which is important during this weak economy, and actually...
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Dec 9, 2013
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the program is running a deficit. able toecurity is receive sufficient funding by cashing in the bonds it has in that is anund, but expense to the treasury which has to come up with the money to cover those bond payments into social security. the bottom line is it is part of the federal budget. we have not privatized the system. the money is accounted for separately. the government is not going to default on the money it owes to social security or to the medicare part a trust fund. host: bob is on our line for and dependents. -- for independents. caller: reducing some of the so sex expenses of means testing -- of the social security's of means testing. 50,000, and increasing the social security age by one year. thank you. guest: i think that sounds like a pretty good plan. i would vote for it. i think the long-term problems of social security have to be addressed by some combination of reduced benefits and that does not mean reduced absolute benefits, and new revenue. i think the combination you probably is where thin
the program is running a deficit. able toecurity is receive sufficient funding by cashing in the bonds it has in that is anund, but expense to the treasury which has to come up with the money to cover those bond payments into social security. the bottom line is it is part of the federal budget. we have not privatized the system. the money is accounted for separately. the government is not going to default on the money it owes to social security or to the medicare part a trust fund. host: bob is...
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Dec 4, 2013
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you have to be creative about how you drive down their catch throw deficit. but the way to do it, and tragically the bankruptcy court can't order the state to kick in a little money, to put back the $47 million they paid, that's the way to do it. so -- >> so if they wanted to reinstate that revenue sharing they took away, you could create a cash flow to get their head above water? >> yes, and you could do it that way ininstead of bankruptcy. >> when you look at the number of bills passed by the house and the paltry number of bills passed by the senate you can see where the problem is. >> yes, we can. and we'll talk about it next. >>> there are eight, count them, eight legislative days left in the first year of the 113th congress, and it is on pace to be a record breaking one. the least productive congress in the history of the american republic. the first session has passed 52 laws so far, easily making it the least productive first session of any congress in history. it is lowest than the least productive first session that happened to be from the last congr
you have to be creative about how you drive down their catch throw deficit. but the way to do it, and tragically the bankruptcy court can't order the state to kick in a little money, to put back the $47 million they paid, that's the way to do it. so -- >> so if they wanted to reinstate that revenue sharing they took away, you could create a cash flow to get their head above water? >> yes, and you could do it that way ininstead of bankruptcy. >> when you look at the number of...
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Dec 2, 2013
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. >> incredibly cold, which that gives the child a way better chance of having the least amount of deficits or making a full recovery. >> reporter: 24 hours later, word reached the crew, the boy was doing better, so much that he is expected to make a full recover. >> wow! it is the best early christmas present that all of us could imagine. >> reporter: just another day on the job at fire station 23, saving lives along the way. brian webb, kpix 5. >> that toddler's grandmother dove in after him. she was also taken to the hospital, treated for hypothermia. she is expected to make a full recovery, as well. >>> bart's two biggest unions are working on a lawsuit against the transit agency over their contract dispute. "the examiner" reports a union official expects a suit could be filed this week. the issue is that tentative contract that union members are proved back in october. bart's directors removed a family leave provision before they voted to ratify that deal. >>> today there's a new 600- foot-long barricade at the [ indiscernible ] to halt a dangerous stunt by commuters just off highway 1
. >> incredibly cold, which that gives the child a way better chance of having the least amount of deficits or making a full recovery. >> reporter: 24 hours later, word reached the crew, the boy was doing better, so much that he is expected to make a full recover. >> wow! it is the best early christmas present that all of us could imagine. >> reporter: just another day on the job at fire station 23, saving lives along the way. brian webb, kpix 5. >> that toddler's...
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government treasury securities the treasury securities that the government is used to cover its deficit spending year after year and in just the last several years less for five years the federal reserve has been basically buying up anough of these securities to be equal to funding anywhere from forty to sixty percent of the government's deficit each year the consequences is that we basically have had a government borrowing money and paper money treated to fund it now i'm sure many viewers are wondering well how come if this is the case and the federal reserve has increased the money supply by over four trillion dollars in the last four four nam five years why haven't we seen more price inflation and that's because the fed reserve has been playing a game it creates the money into the banking system the banks could lend it to us but the federal reserve has through increasing the money supply manipulated interest rates so low as everybody knows and rather tend to lend the money to us consumers of businessmen at these artificially low interest rates the fed reserve pays these banks a sligh
government treasury securities the treasury securities that the government is used to cover its deficit spending year after year and in just the last several years less for five years the federal reserve has been basically buying up anough of these securities to be equal to funding anywhere from forty to sixty percent of the government's deficit each year the consequences is that we basically have had a government borrowing money and paper money treated to fund it now i'm sure many viewers are...
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Dec 5, 2013
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way, maybe this thing with take off area >> i think there has been a huge miss focus .n the budget deficit it is really a long-term problem. the key thing you want to do right now is get the economy back on its feet and coming along. you are actually slowing that recovery down. i think it is just misguided policy. we do not expect that to last forever. we are also saying state and local government coming back a little bit more. that may offset the track we're going to get. >> you just mentioned that modesty oh moderate phrase. as you mentioned, the last four days books contain that wording. should we read anything into that? what does it say about the growth expectations going forward? >> we have seen the fed consistently lower their projections. they have been more realistic. anticipating that growth will pick up, the key issue for the fed, and particularly with a new fed chair coming in, janet yellen is going to be preoccupied in this guiding -- and deciding when to taper and how rapidly to taper. more important like, how to communicate detentions to the markets. landly, the asset purcha
way, maybe this thing with take off area >> i think there has been a huge miss focus .n the budget deficit it is really a long-term problem. the key thing you want to do right now is get the economy back on its feet and coming along. you are actually slowing that recovery down. i think it is just misguided policy. we do not expect that to last forever. we are also saying state and local government coming back a little bit more. that may offset the track we're going to get. >> you...
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Dec 2, 2013
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the country's trade balance swung to a surplus in october from a deficit in the previous month. moving on to currencies, the dollar is gaining momentum against the yen. dollar/yen currently changing hands at 102.78-81. analysts say rising long-term u.s. interest rates are helping boost buying in the u.s. currency. the euro/yen is being quoted at 139.21-24. >>> in other business news, u.s. online shopping giant amazon is hoping to bring the future a step closer. it's trying to deliver packages directly to your doorsteps using small unmanned aircraft. the company has unveiled a test video of a small drone with eight propellers carrying merchandise in a little box. the drone is equipped with a gps system. it can carry packageswaring up to 2.3 kill am gras each. the company aims to deliver packages from distribution centers within 30 minutes. ceo jeff bezos says this is no science fiction. he says the service could be technically ready in four to five years. but bezos adds that u.s. aviation authorities will need to drop regulations for unmanned aircraft before such a service could
the country's trade balance swung to a surplus in october from a deficit in the previous month. moving on to currencies, the dollar is gaining momentum against the yen. dollar/yen currently changing hands at 102.78-81. analysts say rising long-term u.s. interest rates are helping boost buying in the u.s. currency. the euro/yen is being quoted at 139.21-24. >>> in other business news, u.s. online shopping giant amazon is hoping to bring the future a step closer. it's trying to deliver...
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Dec 6, 2013
12/13
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however, there's very little long-term deficit reduction in this deal. we're talking about putting off decisions about raising taxes or cutting medicare and social security. we also have a last-minute hangup over unemployment benefits, the extension of unemployment benefits. democrats want that, republicans say they're not that serious about it, it's not clear whether or not democrats are going to put their foot down and say no deal until then. what i think we know is that there will not be a deal today. house leadership aide told me he expects early next week a deal to be announced by patty murray, the democratic chair of the budget committee in the senate. paul ryan, the republican budget committee chair in the house. then the house and senate pass it before christmas. they leave next week actually for their christmas break. so they would end the year on a positive note. it would dramatically reduce the risk of a government shutdown in january and does not resolve our long-term budget issues. >> does it resolve the debt ceiling deadline which is some t
however, there's very little long-term deficit reduction in this deal. we're talking about putting off decisions about raising taxes or cutting medicare and social security. we also have a last-minute hangup over unemployment benefits, the extension of unemployment benefits. democrats want that, republicans say they're not that serious about it, it's not clear whether or not democrats are going to put their foot down and say no deal until then. what i think we know is that there will not be a...
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Dec 3, 2013
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isn't cutting one penny out of every line item to pay the deficit making sense? isn't lessening our dependence on foreign oil a simple answer? >> i don't think anybody in washington is looking for an answer. there are some, but they are in the minority. in the minority, the great minority in the republican party that are actually looking for answers. the longer we go the more simple but the less easy the answers become. >> we have to take a break. much more with glenn beck after the break. later tonight this father was told that his 18-month-old daughter would not be covered under his family plan and he had to get the toddler insurance. this was new insurance. he's paying more and can't keep his doctor. now he needs two plans for the family. this incredible obama care horror story when we come back. plus we'll check in with ainsley earhardt. she's monitoring health care.gov and facebook tonight for you to see if it is actually fixed straight ahead. >>> welcome back to "hannity." i need you. i feel so alone. but you're not alone. i knew you'd come. like i could st
isn't cutting one penny out of every line item to pay the deficit making sense? isn't lessening our dependence on foreign oil a simple answer? >> i don't think anybody in washington is looking for an answer. there are some, but they are in the minority. in the minority, the great minority in the republican party that are actually looking for answers. the longer we go the more simple but the less easy the answers become. >> we have to take a break. much more with glenn beck after the...
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Dec 5, 2013
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. >>> president obama declaring an end to the war on budget deficits and pledging to fight the deficit of opportunity for the poor and middle class. in a speech wednesday on his economic priorities, the president said the federal deficit is under control and doesn't present a serious threat to the economy. he focused on the gap between the rich and the poor and making the case for raising the minimum wage to more than $10. while extending unemployment benefits. >> we know that we're going to have greater and greater portion of our people in the service sector and we know that there are airport workers and fast food workers and nurse assistants and retail salespeople who work their tails off and are still living at or barely above poverty and that is why it's well past the time to raise a minimum wage that in real terms right now is below it was than when harry truman was in office. >> republican leaders quickly took issue with the president's poach. house speaker john boehner suggesting the president's policies created the very problems that he described. >> meanwhile republicans and d
. >>> president obama declaring an end to the war on budget deficits and pledging to fight the deficit of opportunity for the poor and middle class. in a speech wednesday on his economic priorities, the president said the federal deficit is under control and doesn't present a serious threat to the economy. he focused on the gap between the rich and the poor and making the case for raising the minimum wage to more than $10. while extending unemployment benefits. >> we know that...
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Dec 10, 2013
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trade deficit has exploded. since nafta and w.t.o., we have lost over five million of our manufacturing jobs, 40,000 factories gone and real wages down across the economy. in fact, true audit, our export growth to countries we do not have fast track trade agreements with is actually 38% higher than those with which we do have the fast track agreements. myth number three, every president since roosevelt has had t.p.a. warning, trick acronym. t.p.a. also is an acronym for trade promotion authority. the cynical renaming of fast track. reciprocal the trade authority act. and that is a mechanism president roosevelt had that only pertained to tariffs. yes, it is true from 1934, the reciprocal tariff act had tariff proclamation authority, t.p.a., totally different thing than the t.p.a. that equals fast track. truth, a handful of presidents since nixon has had fast track. and now for the politics. the question is, will this house of representatives give president obama this extraordinary authority to push through the tr
trade deficit has exploded. since nafta and w.t.o., we have lost over five million of our manufacturing jobs, 40,000 factories gone and real wages down across the economy. in fact, true audit, our export growth to countries we do not have fast track trade agreements with is actually 38% higher than those with which we do have the fast track agreements. myth number three, every president since roosevelt has had t.p.a. warning, trick acronym. t.p.a. also is an acronym for trade promotion...
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Dec 4, 2013
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but he said a rapidly growing of deficit opportunity is a bigger threat than the fiscal. we'll go to danny, professor of economics, great to have you back. >> thank you. >> a pleasure, you heard just a moment ago, america's dangerously growing income is defining the challenge of our time. is the president correct, or is he, as some would say, overstating the income inequality and wealth gap argument with that kind of a statement? >> no, if anything there is an understatement. he's absolutely correct saying that it is a defining problem. and this problem has just--it has been exacerbated by global pressures. it is an issue that the white house--i had an opportunity to attend a summit at the white house by the president's council with economic advisers. it is an issue that has to be addressed in light of what is taking place in the economy. >> let's drill down an a bit. we had a conversation before we went to air. as concerned as you are about income inyou quality, you're even more concerned about the wealth gap. >> if you look at income and equality. it is extreme and the
but he said a rapidly growing of deficit opportunity is a bigger threat than the fiscal. we'll go to danny, professor of economics, great to have you back. >> thank you. >> a pleasure, you heard just a moment ago, america's dangerously growing income is defining the challenge of our time. is the president correct, or is he, as some would say, overstating the income inequality and wealth gap argument with that kind of a statement? >> no, if anything there is an understatement....
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Dec 3, 2013
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. >> so deficit or not or maybe especially if we have a national deficit. spending money on pell grants is red investment for our taxpayers. >> yeah. i was going correct you and say it's not spending. it's investment. you are correct. thank you. i appreciate the opportunity. the porps of moving as a nation away from a philosophy toward higher education i've lived importance of the degree. but of course the world has changed a lot in the last 40 years. i would say the federal financial aid system is one of the great success story in the history of the federal government. when our goal was access, we have provided access to higher education for people in the country. like never seen before. in a degree that us value. the income won't be higher. people are graduating with disagrees that make their income no higher. we now have to move from a system that provide access alone to one that incents success so making people's lives better. of course, while it's happening. costs have gone up too. people are now leaving if they don't get a degree most often would too
. >> so deficit or not or maybe especially if we have a national deficit. spending money on pell grants is red investment for our taxpayers. >> yeah. i was going correct you and say it's not spending. it's investment. you are correct. thank you. i appreciate the opportunity. the porps of moving as a nation away from a philosophy toward higher education i've lived importance of the degree. but of course the world has changed a lot in the last 40 years. i would say the federal...
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Dec 6, 2013
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i would say such policies if we were to continue would lead to greater deficit, which would eventually reduce a nations out the door income slightly below what would occur under current i think we should be focused on how to get people back to work. has is where the house focused. they await consideration at all. back. >> i think the gentleman for his comment. we have an alternative. he will be talking about it in terms of job and education and buting jobs for our people, the fact is there are 1.3 million people who cannot find a job. to say they will incentivize because we continue to give some , there are three people looking for everyone job available. most of those are skill sets the unemployed have not ad. we are for investing in education. we share the view on that. it's not going to be much solace for them and their families to say, we dropped you off the rolls. you won't be able to put money on the table -- to put food on the table because the senate has ot acted. i opposed many of the pieces of but we havemyself, a crisis. that crisis is we have 1.3 million. they said not to p
i would say such policies if we were to continue would lead to greater deficit, which would eventually reduce a nations out the door income slightly below what would occur under current i think we should be focused on how to get people back to work. has is where the house focused. they await consideration at all. back. >> i think the gentleman for his comment. we have an alternative. he will be talking about it in terms of job and education and buting jobs for our people, the fact is...